Market Compass: Dollar Strength Reverses Recent Macro Gains

The Market Compass composite score dropped to 23/100, signaling a defensive stance as the dollar index returned to its 200-day average. While on-chain fundamentals improved, the macro environment shifted back to restrictive. Recent data shows that both long-term and short-term Bitcoin holders utilized the late August price bounce to take profits, with the realized profit/loss ratio reaching a high of 2.63.